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Laxman Pai, Opalesque Asia: Institutional investors are increasingly favoring the biggest, most established alternative managers as they make allocations during a global pandemic, said a survey that explores limited partners' alternative investment strategies and plans for 2021.
According to SS&C Intralinks 2021 LP Survey an increased preference for $1 billion-plus and $5 billion-plus fund managers in the investment technology firm's global poll of around 200 limited partners.
Limited Partners (LPs) expressed overall satisfaction with alternative portfolio performance in 2019. Exactly 50 percent said performance met their objectives, with more than 25 percent holding the view that performance exceeded expectations compared with 2018.
Hedge funds also had their best returns in a decade in this period. However, the COVID-19 pandemic's impact has factored heavily into the moves many investors are now considering.
"Overall, respondents felt alternatives performed well compared with 2018, and the pandemic has perhaps accelerated further demand for alternatives," said Bob Petrocchi, SVP & Co-Head, SS&C Intralinks. "Nearly 20 percent of investors noted they plan to increase their allocation to alternatives by 10 percent or more."
According to the survey, many LPs are not convinced private-equity valuations have dropped enough: four out of ten LPs indicated private equity would be their most overweight allocation.
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